Growing usage in Medicine and Bio- refining is leading the growth of Seaweed Market

Analysis

12-June-2017

Seaweed refers to several species of macroscopic, multicellular, marine algae, which are found in seas and oceans across the world. Alginate, agar, carrageenan and gelatinous are substances which are extracted from seaweed. Seaweed is used in cosmetics, foods, medicines and organic fertilizers and feed additives. Seaweed also provides health benefits as it fights against illness and diseases. The global seaweed market is projected to witness significant CAGR during the forecast period as revealed in the report “Global Seaweed Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” by DecisionDatabases.com.

Seaweed market is gaining popularity day by day due to its increasing consumption as a medicine, food extract and for bio-refining purpose which drives the demand for seaweed. Moreover, increasing consumer awareness regarding the seaweed nutritional benefits, rising demand for alginate in food, pharmaceutical industries is expected to boost the growth of global seaweed market in the next six years. In addition, snacks derived from seaweed are also in huge demand which further fuels the demand for seaweed.

The global seaweed market can be classified on the basis of product which includes Red Seaweed, Brown Seaweed and Green Seaweed. Among these, red seaweeds are in huge demand owing to its highest application in human food and production of carrageenan hydrocolloid. Carrageenan hydrocolloid is used in food industry due to its excellent gelling and thickening properties for which red seaweed acts as a source. Brown seaweed is highly used in animal feed additives and fertilizers and so it follows red seaweed. On the basis of form type, the global seaweed market can be classified into liquid, powdered and flakes. Among these, the liquid form seaweed is expected to occupy the largest market share in terms of value and volume; this accounts to rising demand from agriculture and pharmaceutical industries across the world. On the basis of application, the global seaweed market is classified into food and beverages, agriculture, animal feed additives, pharmaceutical and biotechnological and other (biomass for fuel, aquaculture and wastewater treatment).

On the basis of geography, the report segments the industry into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Among the aforementioned segments, Asia Pacific seaweed market is projected to hold the largest market share for revenue. Also due to the increase in seaweed harvesting coupled with consumption in US, Germany, UK and France; North America and Europe is anticipated to contribute together in the global seaweed market. As the awareness regarding the medical benefits of seaweed has been increased among the consumers, Latin America and MEA are expected to achieve the modest growth rate.

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